Avantax Advisory Services Inc. Boosts Stake in Synopsys, Inc. $SNPS

Avantax Advisory Services Inc. grew its stake in Synopsys, Inc. (NASDAQ:SNPS) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,773 shares of the semiconductor company’s stock after buying an additional 690 shares during the period. Avantax Advisory Services Inc.’s holdings in Synopsys were worth $5,011,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky grew its position in Synopsys by 120.0% during the second quarter. Independence Bank of Kentucky now owns 55 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Saudi Central Bank bought a new position in Synopsys during the 1st quarter worth approximately $26,000. Princeton Global Asset Management LLC increased its stake in Synopsys by 481.8% in the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 53 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Synopsys by 441.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 65 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 53 shares during the period. Finally, AlphaQuest LLC boosted its stake in shares of Synopsys by 423.1% during the second quarter. AlphaQuest LLC now owns 68 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 55 shares during the period. Institutional investors own 85.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SNPS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Synopsys in a report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Synopsys from $630.00 to $550.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 10th. Piper Sandler dropped their target price on shares of Synopsys from $660.00 to $630.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Baird R W cut Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 10th. Finally, Morgan Stanley decreased their price objective on shares of Synopsys from $715.00 to $510.00 and set an “overweight” rating for the company in a report on Thursday, September 11th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $562.14.

Insider Activity

In other news, CFO Shelagh Glaser sold 3,655 shares of Synopsys stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $609.77, for a total transaction of $2,228,709.35. Following the sale, the chief financial officer owned 15,317 shares in the company, valued at $9,339,847.09. This trade represents a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sudhindra Kankanwadi sold 9,873 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $500.90, for a total transaction of $4,945,385.70. Following the completion of the sale, the chief accounting officer owned 20,520 shares in the company, valued at approximately $10,278,468. The trade was a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,894 shares of company stock valued at $16,760,783 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Synopsys Stock Performance

SNPS opened at $383.82 on Wednesday. The company’s 50 day moving average is $446.18 and its 200 day moving average is $512.51. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.52. The company has a market cap of $71.29 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 5.02 and a beta of 1.10. Synopsys, Inc. has a 12-month low of $365.74 and a 12-month high of $651.73.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Tuesday, September 9th. The semiconductor company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $3.75 by ($1.45). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Synopsys had a return on equity of 10.82% and a net margin of 31.04%.The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.43 earnings per share. Synopsys has set its FY 2025 guidance at 12.760-12.800 EPS. Q4 2025 guidance at 2.760-2.80 EPS. On average, equities research analysts predict that Synopsys, Inc. will post 10.64 EPS for the current year.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.